Solana Ventures, the investment arm of Solana Labs, announced a new investment fund to introduce more Web3 products to its network. Solana Ventures will cooperate with Forte, a company that provides tools for game blockchain integration, and Griffin Gaming, a venture capital company that invests in the global game market, to open a $150 million fund.

Solana Ventures incentivize game development

Solana Ventures, the capital arm of Solana Labs roll out A new fund to attract developers to build game applications on top of Solana. The fund aims to invest US$150 million in the blockchain game program, with the participation of Forte and Griffin Gaming, two companies participating in the game world.

After the growth of such applications in the past few months, the fund seeks to bring more game-related developments to Solana and introduce the concept of Metaverse to a more mainstream audience.

Web3 games allow users to participate in the virtual world by owning assets and provide opportunities to establish markets for these assets among users, promoting the creation of a self-sufficient economy. In response, Forte CEO Josh Williams said:

With the advent of NFT and other blockchain technologies, game developers can now provide their audiences with real property rights and create a self-sustaining and prosperous economy in their games.

Tools and support for developers

In addition to the economic incentives the fund seeks to provide, there is also the support of companies such as Forte, which provide developers with tools to include blockchain elements in games through established frameworks—rather than starting from scratch.

Griffin Gaming, which has invested more than US$400 million in game-related companies worldwide, also emphasized the importance of introducing these new game-related applications to the future of the blockchain field. Pierre Planche, partner of Griffin Gaming, declared:

If it were not for the many technological developments made by the community in the past decade, games and interactive media would not be the cornerstone of today’s blockchain.

This is not the first game and Web3 dedicated fund launched by Solana Ventures. The company previously used resources to support similar metaverse and game earning related programs.the first is roll out In November, cooperated with FTX and Lightspeed, and allocated 100 million US dollars for this.

What do you think of Solana Ventures and its latest game-related $150 million fund? Tell us in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He described himself late and entered the crypto space when prices rose in December 2017. With a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency boom at the social level, he offers a different perspective on the success of cryptography and how it can help people without bank accounts and underserved people.

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